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Basis of Consolidation and Presentation (Tables)
9 Months Ended
Sep. 30, 2012
Calculation of Income Per Share From Continuing and Discontinued Operations

The following table presents information necessary to calculate income from continuing operations per share, loss from discontinued operations per share and net income per share for the three and nine months ended September 30, 2012 and 2011 as well as potentially dilutive securities excluded from the weighted average number of diluted common shares outstanding, as their inclusion would have been anti-dilutive (in thousands, except per share amounts):

 

     Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
     2012     2011     2012     2011  

BASIC EPS:

        

Income from continuing operations

   $ 50,806      $ 81,928      $ 240,618      $ 235,185   

Adjust for income attributed to holders of non-vested restricted stock

     (462     (705     (2,040     (1,841
  

 

 

   

 

 

   

 

 

   

 

 

 

Income from continuing operations attributed to common stockholders

   $ 50,344      $ 81,223      $ 238,578      $ 233,344   
  

 

 

   

 

 

   

 

 

   

 

 

 

Loss from discontinued operations, net

   $ —        $ —        $ —        $ (367

Adjust for loss attributed to holders of non-vested restricted stock

     —          —          —          3   
  

 

 

   

 

 

   

 

 

   

 

 

 

Loss from discontinued operations attributed to common stockholders

   $ —        $ —        $ —        $ (364
  

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock

     149,846        152,617        152,570        153,661   
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic income from continuing operations per common share

   $ 0.34      $ 0.53      $ 1.56      $ 1.52   

Basic loss from discontinued operations per common share

   $ 0.00      $ 0.00      $ 0.00      $ 0.00   

Basic net income per common share

   $ 0.34      $ 0.53      $ 1.56      $ 1.52   

DILUTED EPS:

        

Income from continuing operations attributed to common stockholders

   $ 50,344      $ 81,223      $ 238,578      $ 233,344   

Add incremental earnings related to potential common shares

     —          6        —          —     
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted income from continuing operations attributed to common stockholders

   $ 50,344      $ 81,229      $ 238,578      $ 233,344   
  

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock

     149,846        152,617        152,570        153,661   

Add dilutive effect of potential common shares

     676        1,503        496        1,708   
  

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average number of diluted common shares outstanding

     150,522        154,120        153,066        155,369   
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted income from continuing operations per common share

   $ 0.33      $ 0.53      $ 1.56      $ 1.50   

Diluted loss from discontinued operations per common share

   $ 0.00      $ 0.00      $ 0.00      $ 0.00   

Diluted net income per common share

   $ 0.33      $ 0.53      $ 1.56      $ 1.50   

Potentially dilutive securities excluded as anti-dilutive

     5,538        410        5,498        1,707